Market Updates

Aug. 9, 2022

August 2022 Canyon Crest Market Update - The New Normal

 

Boy, has the market changed in the past few months. Back in April, a property wouldn't stay on the market for more than a few days, and now we are looking at an average of 67 days on markets. The looming recession has buyers on the edge of ...

View More
Aug. 9, 2022

August 2022 Market Update - No Bargains

 

 

MANY BUYERS ARE LOOKING FOR A DEAL OR WAITING FOR THE HOUSING MARKET TO CRASH BEFORE THEY PURCHASE, BUT THAT IS NOT GOING TO HAPPEN ANYTIME ON THE HORIZON. 

 

 

The looming recession has buyers on the edge of their seats fully aware that the housing ...

View More
Aug. 8, 2022

3 Graphs to Show This Isn't a Housing Bubble

 

With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what’ll happen next. It’s only natural for concerns to creep in that it could be a repeat of what took place in 2008 ...

View More
Aug. 3, 2022

Mortgage Rates - This is What We Know To Be True


Up until about 20 years ago, rates generally remained about 7.5% and home buyers purchased homes at record rates to get their slice of the American Dream. But now that rates are in the mid-5% range, sales are slowing dramatically.

This is what we know to be true:

1 ...

View More
July 26, 2022

July 2022 Real Estate Market Update - What a Difference a Year Makes

 

 

IN COMPARING THIS YEAR TO LAST YEAR, THE HOUSING MARKET IS PROFOUNDLY DIFFERENT WITH HIGHER MORTGAGE RATES, MORE AVAILABLE HOMES, MUCH LOWER DEMAND, AND SIGNIFICANTLY 

LONGER MARKET TIMES. 

 

The tell-tale signs that the market has changed are all here. OPEN HOUSE directional arrows now adorn ...

View More
June 20, 2022

Home Price Deceleration Doesn’t Mean Home Price Depreciation

 

 

Experts in the real estate industry use a number of terms when they talk about what’s happening with home prices. And some of those words sound a bit similar but mean very different things. To help clarify what’s happening with home prices and where experts say they’re going, here’s a ...

View More
April 20, 2022

Canyon Crest Real Estate Market Update - April 2022

The Market is starting to shift...but how? Watch Leslie explain the status of the Canyon Crest Estates market specifically as well as giving an overall market update.

See for yourself what is going on in the Canyon Crest market:

What's currently for sale?

Click here to see properties ...

View More
April 5, 2022

New Trends are Emerging - It Isn't Going to be a Seller's Market Forever


As rates zoom upwards, home affordability is beginning to impact the housing market in several profound and meaningful ways. 

 

The scent of orange tree blossoms is captivating. It is just the beginning of the slow metamorphosis from flower to fruit. After the flower blooms, it takes navel oranges ...

View More
Posted in Market Updates
April 4, 2022

What’s Happening with Mortgage Rates, and Where Will They Go from Here?

 

 

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a ...

View More
Feb. 22, 2022

February 2022 Real Estate Update - Will Foreclosures Flow into the Market This Year?

The story for real estate hasn't changed much in the past month: We still have too many buyers and not enough homes available for them to buy. 

Which leads to many questions:

  • How long will this supply shortage last? When will prices start leveling off?
  • When will prices ...
View More
Posted in Market Updates